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said is why he called the president saturday and ended their talks on the so-called big deal to cut the debt by $4 trillion over a decade, which he said the two men had been discussing since january. a republican source close to the negotiations says despite the smiles, the meeting is on a smaller deal are producing little progress at this point. speaker boehner was asked what happens if there is no deal and the nation defaults on august 2, he said nobody knows, it's a crap shoot. >> thank you very much. senior business correspondent anthony mason is here now. let's go back to the news from moody's. what exactly does that mean? >> moody threatened to do this last month. today the rating agency cited its concerns that the debt limit will not be raised on a timely basis, leading to a default on a u.s. treasury obligation. moody's words, the risk of a short-lived default was small but rising. standard and poors put u.s. credit on negative outlook back in april citing the same concerns. this is basically another warning shot, russ, telling congress they're running out of time. >> how so
billion a year funding bill for the f.a.a. the old one expired friday. that hits every big weak spot in the economy: jobs. 70,000 construction workers and 4,000 f.a.a. employees furloughed. stimulus: 150 airport construction projects stalled. the deficit: $200 million a week in ticket taxes lost because the f.a.a. has no authority to collect them. there are two main staking points. democrats want to make it easier for airline and railroad workers to unionize, republicans don't. and republicans want cuts in so-called essential air servic services. essential air service pays $163 million tax dollars for airlines to fly on little-used routes that might otherwise shut down. in a cbs news investigation, we took one government subsidized flight from washington to virginia's shenandoah valley. we found just four passengers on board and the plane went on to west virginia empty. today transportation secretary ray lahood urged congress to solve their disputes. >> and for all of my friends on capitol hill who give speeches everyday about jobs, the importance of jobs, putting people to work, thi
Search Results 0 to 4 of about 5 (some duplicates have been removed)

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